Study 10 - Ethics, Education and Excellence Flashcards
What is CRT?
-Caux Round Table
-belive the business community plays an important role in improving economic and social conditions
-emphasize putting your own house in order before casting judegment
-work towards what a fair and just society should be
What is Ethics?
-how we evaluate human morals
-standard of conduct
-employees ‘right’ course of action
-intuition of right and wrong
-Core Values
-Ideal Virtues
-Habits of character
Adjuster’s Acceptable Practice
Adjuster must:
-Identify themselves and their principals if asked
-Provide a copy of any written statement at no charge to the statement maker
-Explain relevant insurance coverages
-Not provide legal advice, unless permission by counsel provided
Ethics Training Leads to
- -Creation of a framework to generate, nurture and sustain transparent
-conduct
-processes
-procedures - -Encourage open and critical discussion of the insurance industry
- -Overall Good Governance
Ethics in the Workplace
Emphasizes:
-Attention to clients interests
-Integrity
-Awareness of Ethical Dilemmas
-Quality of Service
-Confidentiality
-Proper Conduct toward Others
-Competency
What is utmost good faith?
Legal principle of highest integrity and honesty on all parties behalf.
-trust is a fundamental principle of insurance
CIP Code of Ethics
Institute graduates shall, in exercising their professional responsibilities, and in all professional matters, subordinate personal interests to those of the public, the client or employer or the Institute and profession as the case may be.
Institute graduates shall **not violate any law or regulation **duly enacted by any governmental body whose authority has been established by law, and no Institute graduates shall knowingly lend themselves, their names or their services to any unlawful act of their employer or client.
Institute graduates shall **not willfully misrepresent or conceal material fact in insurance **and risk management business dealings in violation of any duty or obligation.
Institute graduates shall not sign or associate themselves with any letter, report, statement or representation, which they know is false or misleading, or which is prepared in a manner, which might tend to be misleading or to misrepresent the actual situation.
Institute graduates shall** treat as confidential any information, documents, or papers relating to the business affairs of their employer or client** and shall not disclose or produce such information, documents or papers, without the consent of the employer or client concerned, except as required to do so by law.
Institute graduates shall use due diligence to ascertain the needs of their client or principal and shall not undertake any assignment if it is apparent that it cannot be performed by them in a proper and professional manner.
Institute graduates shall not fail to use their full knowledge and ability to perform their duties to their client or principal.
In all dealings graduates shall conduct themselves with dignity and shall avoid conduct, which would discredit the profession of insurance or the Institute.
Essential Workplace Skill
-Collaboration
-Active Listening
-Asking Effective Questions
-Delivering Difficult Messages
Collaboration Actions
-Agree on roles and responsibilities
-Be clear and concise
-Establisch Communication Protocols
-Create Shared Objectives
-Identify Obstacles
-Address issues as soon as possible
-Give Credit to others
-Be open to constructive conflict
What is Active Listening?
Listening and Engaging:
-demonstrate listening
-concentrate on the person stance
-observe non-verbal communication
-allow the speaker to finish
-respond in short phrases
-repeat what they said
-clarify
-summarize understanding
-reflection
How to ask Effective Questions?
-ask open ended questions (not leading)
-listen actively
-encourage questions
-ask follow-up questions
-be tone conscious
Types of Questions:
-Probing
-Hypothetical
-Open-ended
-Reflective
Reasons to Deliver a Difficult Message
-An unanticipated development
-a failure to achieve a task
-a change in strategy
-an unexpected result
-a surprising disclosuer
How to Deliver a Difficult Message
-Be Timely
-Be specific
-Be Honest
-Focus on Facts;not feelings
-Stay positive
-Plan for the conversation
-Frame the conversation
-State the decision
-Provide context and supporting facts
-Discus what happens next
CIP Code
1) Subordinate personal interests
2) do not violate the law
3) no misrepresenting of material fact
4) no false reports
5) keep informational confidential
6) Due diligence for customer needs
7 ) use full knowledge
8) act with dignity
